UTXICO: Export target to US$80 million

Utxi Aquatic Products Processing Corporation (UTXICO) has set target for the business plan in 2011.

Accordingly, the company plans to purchase 13,000 tons of raw shrimps, worth VND1,430 billion and to ship 11.000 tons of finished product, valued at US$80 million. It aims to hit VND120 billion of domestic sales and VND48 billion of after-tax profit

Mr.Nguyen Tuan Anh, CEO of UTXICO said his company decided to cut down the processing capacity considering the current shortage of raw material.

Although it is just half way through the year, many buyers have made orders to prepare for year – end holidays. But the material shortage has prevented the company from signing big contracts

According to Viet Nam Customs, by the end of April, UTXICO had exported 1,000 tons of shrimp, earning US$10.44 million. The company ranked the 14th among the top largest shrimp exporters of the country.